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SBA ASSOCIATES
FIRM PROFILE
Confidential
SBA ASSOCIATES, Chartered Accountants (SBA) was established in 1974. The firm
comprises seven partners, all FCAs and fully active. Two partners have DISA (ISA)
qualification. The firm offers services mainly in the areas of Statutory Audit, Internal
Audit, Management Consultancy, Taxation and Accounting. Service activities of the
firm include areas such as Capacity Building and Accounting Reforms in the
Govt./Semi Govt. sectors, under internationally funded programmes, Financial and
Strategic Business Planning, Financial Restructuring, Mergers and Acquisition
proposals, Valuations, System Audit, International Accounting and Due Diligence.
In our compact organization with a well-knit partnership, every assignment is looked
after by a Partner and are in a position to offer personalized services with the object of
providing maximum client satisfaction and benefit with a high degree of quality.
Depending upon the nature of assignments and depending upon requirement in each
case, partners are assisted by qualified and experienced consultants in Financial,
Marketing and Technical disciplines from outside the firm.
Partners individually have adequate experience in industry and banking both as high
ranking executives and also in professional capacity as consultants and/or auditors.
Four partners have worked with banks and financial institutions before joining practice.
We ensure that there is quality in everything we do.
The administrative office with a practice unit is situated in the heart of Kolkata at 27,
Mirza Ghalib Street, 5th Floor, Kolkata - 700016, (off Park Street) (Telephone No. 03322520049). The other practice unit is in the Eastern part of the city at P-199, C.I.T Scheme
IV-M, Kolkata-700010 (Telephone No. 033-23536859) near the newly established IT hub
of Kolkata to conveniently service clients who are situated there. Airport is twenty
minutes drive from this office. We also have Branch Office at Bangalore at Suncity
Appartment, 601, Block 12 Diamond, 341, IBBLUR, Belandur Gate,Bangalore – 560 102
from where we look after our work in South India.
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KEY PERSONNEL
PARTNERS
Asit Dutta, B. Com, F.C.A.
In practice since 1974
Senior most member of our firm. He was mainly responsible for setting up this
firm in 1974. Worked with an international firm of Chartered Accountants and a
nationalized bank for four years before entering practice. Has wide experience in
conducting and guiding Statutory (including Central Statutory Audit),
Concurrent and Internal Audits, of banks and other large entities. Is a leader in
execution of consultancy assignments related to Feasibility Study, Restructuring,
Revival and Project Management, Taxation, Company matters and other
professional engagements. Regularly chairs /speaks in various professional
seminars and training programmes.
Sumit Basu, B. Com, F.C.A.
In practice since 1977
Worked with an international audit firm and a large managing house in Eastern
India and directly looked after import export operations. Conducted statutory
audit of banks including central audits, retail portfolio audits, Audit of Public
companies, including Finance companies, Concurrent audits and Investigations
on behalf of IDBI and SBI, Concurrent Audit including of very large branches of
PSU banks (CAG Branch of SBI), IDBI & Axis Bank including audit of foreign
exchange transactions and special audits on behalf of RBI and internal audit of
large entities including finance companies. Partner in charge of the firm’s large
consultancy and project management assignments.
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Sankaracharya Mukhopadhyay, M.Com., F.C.A., DISA(ICA)
In practice since 1985
Worked as Management Consultant in the Consulting & Applied Research
Division of Administrative Staff College of India (ASCI), Hyderabad. Worked as
Chief Executive of a multinational group based in London and Nigeria, having
World wide trading activities, a textiles manufacturing unit, a very large
electronic assembly line and manufacturing unit of Blow & Inspection moulded
plastic products at Nigeria. Worked in senior positions in large PSUs including
Public Sector Banks and a Central Government Statutory Corporation.
Conducted
Central Statutory Audit of nationalized banks. Led many
consultancy services in the areas of financial management and accounting as also
MIS and monitoring systems to PSUs, IDBI, Central and State Government
Departments. Handled assignment of studies relating
to inter – office
transactions of State Bank of India. Successfully completed assignment of
installing US-GAAP at Bank of Maharashtra. Prepared Project Report for World
Bank assisted projects for the Co-operative sector in Orissa and was a member of
the counterpart team to World Bank consultants.
Nilanjana Sen, B.Com, F.C.A., DISA (ICA)
In practice since 2002
Worked in manufacturing and service sectors operating in a fully computerized
environment. Well versed in conducting statutory and concurrent audit of banks,
Also experienced in statutory audit of registered societies, private limited
companies, preparation of project report, preparation and filing of tax return,
investigating financial irregularities and other financial issues of management
interest and Accounting Reforms of ULBs including authentication and
certification.
Dilip Kumar Banerjee, B.Sc., F.C.A.
In practice since 2002
Worked for 24 years with Industrial Investment Bank of India Ltd. a public
financial institution, owned by Central Govt. and retired as Chief General
Manager. Experienced in the areas of monitoring of loans and investments and
mobilization of resources. Was the overall in-charge for finalization of accounts,
audit and preparation of business plan and budgetary control Was a nominee
Director in a number of Companies.
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Sarthak Kumar Majumdar, B.Sc (Hons), FCA
In practice since 2003
Over 31 years of experience in the Finance and Accounts, Cost Control and
Management Accounting Depts. with a number of reputed Public / Private sector
organisations, multinational companies including Davy-Ashmore India Ltd.,
Wellman Incandescent India Ltd., Tyre Corporation of India Ltd., TATA Group
of Companies etc. He also has more than 9 years of experience in the practice of
the Profession of Finance and Accounts, Direct/Indirect Taxes, Banking and RBI
matters, Company matters, Management Consultancy assignments, Takeovers,
Investigative / Techno-commercial Due Diligence Study, preparation of TechnoEconomic Viability Reports, etc.
Pijush Kumar Gupta, B.Com. (H), FCA
In practice since 1983
Worked as director and also as a partner for seven years with Deloitte India. Has
extensive experience in both Statutory and Internal Audit of large entities
including The Chartered Bank (Indian operations), The Grindlays Bank, (Indian
operations), Indian Overseas Bank, Bank of Bhutan, Oil India Ltd., SAIL, Calcutta
Tramways Company Limited, Hindustan Aeronautics Limited, Airports
Authority of India, Icra Online Limited, Icra Techno Analytics Limited, Shriram
Life Insurance Company Ltd., Shriram City Union Finance Limited, Pattukotai
Bio-Mass Plant under EPC/Orient Green Power Company Limited and several
other Shriram group companies, Moser Baer, LG India, Business Standard,
Videocon Industries Ltd., and Icra Limited etc. etc.
SUPPORT STAFF AND OTHER RESOURCES
The firm has in its employment two Chartered Accountants on full time basis.
Other professionals include Cost Accountants and ex- senior officers of PSU
banks. There are more than ten semi-qualified assistants at any point of time. The
Firm has adequate number of senior audit and supporting staff. All assistants are
capable of working in a fully computerized environment. The firm utilizes the
services of senior technocrats and legal and other consultants whenever a
particular assignment calls for such synergy.
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ASSOCIATES
Sibendranath Chattopadhyay, BE, 1st Class Mining Certificate from Indian School of Mines,
Dhanbad.
Has 40 years’ experience in Coal and Iron Ore mining and project management in very senior
capacities both in India and abroad.
Rajat Mitra, B.Sc (Hons. Glas.), ARCST (Hon. Strathclide) MIE, Ceng
Chartered Engineer, over 35 years of varied experience in Industry & Consultancy as Senior
Technical Consultant at S. R. Batliboi & Co. (8 years), Lovelock & Lewes (6 years) and as
Director of Maxcon Management Services Pvt. Ltd. (10 years).
A. Ramanathan, B.Sc. (Dairy Technology) PGDBM (IIM, Ahmedabad)
Formerly Executive Director National Co-operative Development Corporation
(A Government of India Statutory Corporation).
D. Sanyal
Over 45 years in Iron & Steel and Foundry Industry. Worked in senior capacity with TATA
Motors in Foundry and Project Division.
Gautam Chatterjee
Professional Qualification:
B. Tech in Food Technology & Bio-chemical Engineering from Jadavpur University in 1979 with
first class honours with 27 years’ experience in Food and Food related projects. Employed in
various senior capacities as General Manager, Bharat Margarine, with Keventer Agro, Black
Diamond Beverages amongst others.
S.K. Chatterjee, B. Arch., AIIA
Has 43 years of experience. Running his own consultancy firm under the name S K Chatterjee &
Associates since last 22 years. Handled large project of industrial, multistoried institutional
and residential complexes.
N. C. Saha, B.Sc.(Cal), B.Sc.(Glasgow), ARCST(Glasgow)
Worked with Brown Boveri, - R & D, Switzerland ; with GEC as in-charge of Fan Division and
with Khitan Fans India Limited since 1979. Retired as the Deputy Managing Director of
Khaitan Electricals Ltd.; Member Tech. Com ETO5 of B.I.S.
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AREAS OF ACTIVITIES
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Accounting:
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Auditing:
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Statutory Audit
Tax audit
Internal Audit / Concurrent Audit
Concurrent Audit of assisted units on behalf of banks and FIs.
Due Diligence
Management Audit.
Management Consultancy:
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Advising on prudent accounting policies and practices to be
followed.
Apprising on relevant Accounting Standards.
Installing US GAAP Accounting systems and translating accounts
under US GAAP and IFRS.
Designing and installation of Accounting System, Costing and
Budgetary Control System.
Project identification, Project Feasibility Studies, Market Studies,
Collaboration Joint Venture
and Technology transfer, Loan
syndication.
Diagnostic study, Restructuring and nursing programmes and
Monitoring for revival of sick-units.
Design and installation of Inventory Control System and MIS.
Corporate Strategic Planning.
Organisation Study, HR Planning and Recruitment.
Valuation
Merger and Acquisition Support
Business and enterprise Valuations,
Valuation & Verification of Properties & Assets.
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Taxation and Company Matters:
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IT Services:
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Income Tax , Sales Tax, Excise Duty and Service Tax
Tax Planning and Representation
Company Secretarial Services
Advising on Company Law and other allied laws
Installation of Computer system including selection of hardware
and development of software.
System Analysis and Data Processing Services.
System Audit.
Industry Exposure of the firm
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Telecom
Banking and Financial Institutions
Non Banking Financial Institutions
Textiles
Steel and Allied Industries
Engineering
Coal
Printing
Agro and Food Processing Industries
Tea
Leather
Consumer Products
Chemicals
Aviation
Construction
Tyre & Tubes
Local self-governments – both urban and rural
Renewable Energy (Solar & Biomass)
Media
.
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Combined experience of our Partners and the Firm can be briefly summarized as
follows.
FINANCIAL SERVICES SECTOR
Banks
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Central Statutory Audit:
Present
UCO Bank
Previous
United Bank of India
State Bank of India
Punjab National Bank
Industrial Investment Bank of India Ltd.
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Statutory Branch Audits
Indian Overseas Bank
Punjab National Bank
State Bank of India
United Bank of India
Vijaya Bank
Corporation Bank
Bank of India
Central Bank of India
Indian Bank etc. etc.
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Systems Audit
Bank of Maharashtra: Seven Large Branches in Delhi
United Bank of India: Three large Branches in Kolkata
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HO Treasury and Investment Audit
Allahabad Bank
UCO Bank
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Concurrent Audits
Current
Allahabad Bank
IDBI Bank
Axis Bank
Past
State Bank of India
State Bank of Indore
Bank of Baroda
Allahabad Bank
Indian Bank
Canara Bank
Dena Bank
United Bank of India
Red Cross Place Branch
Kolkata Branch and Vertials
CBB , Kolkata
CAG and Commercial Branch, Kolkata
Brabourne Road Branch
Brabourne Road, Camac Street Branch
Southern Avenue, Tentulberia, and Chetla Branch
Alipore and Khidirpore Branch
N.S. Road Branch
Brabourne Road Branch
Parnasree Pally, Mominpore and Salt Lake City,
Sector V Branch
RELATED TO GOVT. SECTOR
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Statutory audit of public sector companies
Steel Authority of India Limited - RMD
Bharat Sanchar Nigam Limited
IRCON International Limited
Industrial Investment Bank of India
Indian Airlines Limited
Bharat Coking Coal Limited
Steel Authority of India Limited
Eastern Coalfields Limited
Oriental Insurance Ltd.
National Insurance Ltd etc. etc.
PF Audit of IIBI EPF for three years
The New India Assurance Co. Ltd. etc. etc.
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Local Self Governments
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Statutory Audit of Private Sector Companies
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Expert in the Capacity Building of Internal Audit Department –
Management & Operational Audit of Kolkata Municipal
Corporation.- Ongoing since March, 2006.
Accounting Reforms and preparation of Financial Statements on
Accrual basis for seven Municipalities – Kamarhati, Pujali,
Krishnagar, Shantipur, Nabadwip, Haldia and Habra Completed.
Internal Audit of two Municipalities
New Barrackpore
and Maheshtala Municipalities (West Bengal), Hassan City
Municipal Council (Karnataka) and Mangalore Municipality,
Karnataka.
Zilla Parishad of Bankura, Malda, Nadia – Audit of DRDA and
various poverty alleviation funds provided by Central and State
Govts .
Preparation of PF Accounts of Bankura Zilla Parishad for a period
of 16 years.
Life Insurance Corporation of India
Shriram Life Insurance Company Ltd.
Gansons Limited
Almal Group of companies
Caps & Prints Pvt. Ltd.
Kolkata Closure Pvt. Ltd.
Tron Videotix Pvt. Ltd.
Santosh Varnish Pvt. Ltd.
Neoteric Engineers Pvt. Ltd
M.N.Consultants Pvt. Ltd.
E-design Pvt. Ltd.
Modern Rock& Clay P ltd
Nurpur Gases P ltd etc,etc.
Statutory Audit of Association
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Indian Tea Association
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Internal Audits
Ongoing
Saraswaty Press Limited
Bharat Coking Coal Limited
National Jute Manufacturing Corpn. Limited
Peerless Hospitex Hospital & Research Centre Ltd.
National Neurosciences Centre
Andrew Yule & Co. Ltd. (Tea Divn.)
SSK Exports Ltd
B I Publications Pvt. Ltd
The British Institute of Engg. Technology Pvt. Ltd.
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Internal Audit of Association
The Institute of Indian Foundrymen
Previous Assignments (Internal and Concurrent Audits)
Red Ceramics Limited
Datre Corporation Limited
GMB Ceramics Ltd
Mackintosh Burn Limited
Tyre Corporation of India Ltd.
Shalimar Works (1980) Ltd
National Iron & Steel Co. Ltd.
Neopipes & Tubes Co. Limited
Indian Petrochemcials Corpn. Ltd.
Ingram Micro India Limited
Crystal Cables Industries Ltd.
Magma Leasing Limited
The Calcutta Club Limited
Arohan Financial Services Ltd. etc.
Concurrent Audit (IDBI)
Concurrent Audit (IDBI)
Concurrent Audit(IFCI)
Internal Audit
Internal Audit
Internal Audit
Internal Audit(SB!)
Internal Audit(SBI)
Internal Audit
Internal Audit
Concurrent Audit (IDBI)
Internal Audit
Internal Audit
Internal Audit.
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Special Assignments
Central Finance Limited. (on behalf of RBI)( Special Audit)
Metropoli Overseas Ltd. (on behalf ofBIFR/ IDBI)(do)
Cummins Sales & Services India Ltd.
State Bank of India (Central Accounts Office):
Diagnostic & System Study for identification of long outstandings in-inter-office
accounts.
Royal Bank of Scotland N.V. (ABN Amro)
DSA audit.
Citibank
Customer verification & loan processing.
Grindlays bank
Detailed review of files and working papers of Bank’s in-house Internal Audit
Department (pan India) on behalf of Coopers and Lybrand, London
The Chartered Bank
Audit/Certification of claims submitted to RBI in respect of interest subsidy
receivable on account of export credit extended at lower rates.
Co-operative Banks/Societies
Statutory Audit
Raiganj Central Co-operative Bank Ltd. West Bengal
Preparation of Accounts and Audit Manual
Bantra Cooperative Bank, West Bengal
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Conversion of Accounts including preparation of Accounts and Audit manual
and Officers Training for all cooperatives under eight blocks of Nadia District in
West Bengal under Integrated Co-op Development Project of Nadia District
Central Cooperative Bank and National Co-operative Development Corporation
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On the approved panel of LICI. Audit Assignment is expected anytime.
Credit Rating Agencies
Internal Audit
ICRA Limited
Statutory Audit
ICRA Online Limited (SME Rating)
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Due Diligence Audit
GE Capital Service Ltd./GE Countrywide Financial Services Ltd.
Portfolio Audits of
Magma Leasing Limited
Citi Financial Services Ltd
SREI Finance Limited
APJ Finance Limited
Sratchi Finance Ltd.
Ashoke Leyland Finance Ltd.
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Restructuring and Techno Economic Viability Appraisal (A few examples)
at the instance of State Bank of India
Prafulla Medical & Research Centre (P) Ltd.,
Swain Export Pvt. Ltd.
Deepak Industries Ltd.
Radiant Rotogravure Ltd.
Premier Irrigation Equipment Ltd.
at the instance of United Bank of India
Mansi Oils & Grains Pvt. Ltd.
Vishwa Engg. Ltd.
at the instance of PU Dept. Govt. of W.B.
Bengal Salt Ltd.
Others
Tyre Corporation of India- BIFR proposal
Eastend Paper Ltd- BIFR proposal
Cycle Corporation of India- revival & turnaround Study.
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Project Counselling, Advisor Services, Project Feasibility Studies/Techno Economic
Viability Studies. Collaboration and Joint Venture Tie ups and other project related
services
( Some Assignments)
SEZ Madhumita Construction Pvt. Ltd.
Food processing
Shalimar Pellets Limited Project for pelletised Poultry Feed
Tropical Food Machinery Fruit concentrate for Exports
SRL, Italy
Sapling Agrotech Pvt. Ltd Canned mushroom
IFB Agro-Marine Division Export of marine products
Anjanay Rice Mills Pvt.Ltd. Modern rice mill
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Solar
Webel Solar Energy
Systems ltd
Solar cell manufacturing
Media
Satya Films Limited Film and TV Studio Project at EM By Pass,
Kolkata
Engineering Sova Electro Castings Limited
IFB Industries Limited